Brands are rushing into podcasts – but how can they protect themselves against brand damage in a chaotic booming space?
Spotify and Integral Ad Science believe they have the answer. The two firms have teamed up to create the industry’s first third-party brand safety and suitability reporting tool. Global media agency UM Worldwide have stepped forward to test it first.
Experts say podcast ad revenue surpassed $1 billion in 2021 and could triple to more than $4 billion in 2024. As investment has poured in, so has the importance of ensuring suitability for advertisers. Brand safety guidelines are well established in other areas, but less so in audio.
Spotify and IAS are researching the space and say the results will be used to create a first-of-its-kind brand safety and suitability tool to aid in campaign planning, management, and reporting.
“Spotify pioneered the digital audio landscape as we know it today and we’re excited to continue our leadership here as we rise to the next challenge: brand safety,” said Julie Clark, Global Head of Advertising Revenue Innovation, at Spotify.
Yannis Dosios, Global Chief Commercial Officer at IAS, added: “With podcasts expected to reach more than 500 million listeners worldwide by 2024, this solution will offer advertisers more control and confidence that their messages will deeply resonate with their intended audiences.”